GPTC Is the Most Important Subsidiary of DCG.

GPTC is an absolute cash cow for grayscale and subsequently DCG. They charge about a 2% management fee on the underlying Bitcoin of that trust. So they've made about $900 million in revenue since the beginning of 2021 just on that fee alone. And so this to understand why a lot of this crypto contagion starts with GPTC, it's really important to go into the weeds about how it actually functions.

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Sam Callahan is the Lead Analyst at Swan Bitcoin where he spend most of my time with Swan Private Client Services team educating high-net-worth individuals, financial advisors, and businesses about Bitcoin.

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You can find his work on the Swan Signal blog at swan.com.

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